When do external audits performed by agencies like OIG typically occur?

External audits conducted by agencies such as the Office of Inspector General (OIG) typically occur retrospectively. This means that auditors review past activities, records, and transactions, often looking back at a specific time frame to determine compliance with laws, regulations, and policies. The focus on retrospective audits allows agencies to assess the effectiveness of compliance programs, identify potential areas of concern, and ensure that past practices align with current laws and regulations.

In contrast, concurrent audits would involve monitoring processes as they occur, which is not the primary method used by external agencies like the OIG. Internal audits are conducted by the organization itself rather than an external party, and comprehensive audits suggest a thorough examination that could include both retrospective and concurrent reviews, but the term is broader and does not specifically refer to the standard practice of the OIG. Thus, the retrospective approach accurately captures the nature of external audits performed by OIG and similar agencies.